Arkansas Federal Credit Union, the largest credit union in Arkansas, has successfully implemented ‘INFORM’, a solution that will brand their calls to all subscribers with major US carriers, in partnership with First Orion, the branded communication solution provider for businesses.
Arkansas Federal Credit Union explained that it hopes the move to implement branded calls will improve customer experience (CX) and brand reputation. The financial institution saw an 11 per cent increase in engagement rate while experiencing a call decline rate decrease of 21 per cent when making outbound calls to its members.
Consumers want to know when their financial institution is calling them, according to a survey by First Orion. In 2022, 90 per cent of people said it is ‘extremely’ or ‘very’ important that a call from their financial institution is clearly identified with the institution’s name.
Rodney Showmar, president and chief executive officer of Arkansas Federal, explained the significance of the move: “By branding our calls, we confirm the authenticity of our call for our members which paves the way for more meaningful and constructive conversations. We’re excited to be early adopters of this technology and provide an enhanced relationship for our 150,000 members.”
The survey also revealed that 58 per cent of people would switch to a financial institution that could properly verify and identify themselves when calling. Respondents also said they prefer the phone call twice as much as any other option for critical communication.
Improving customer experiences
INFORM helps businesses improve their CX, EX and operational efficiency by empowering them to display their name on the recipient’s mobile device at the time of the call and in the call log afterwards. Through First Orion’s customer portal, businesses can also manage their phone numbers and use advanced analytics to optimise their calling programs.
Kevin McKenna, head of brand sales at First Orion, also commented: “There is no shortage of ways for businesses to attempt to connect with their customers. However, if it’s something urgent or important, unlike an email or text, the phone call always breaks through.
“Branded calling offers financial institutions a way to enhance communication, build trust, and improve customer interactions. Arkansas Federal Credit Union is at the forefront of leveraging this cutting-edge technology to provide its members with the best member experience possible.”
After deploying First Orion’s branded calling solution, Arkansas Federal Credit Union experienced a surge in answered calls, an increase in calls lasting one minute or more, and a reduction in members rejecting their incoming calls.
